SICOR Licenses Vitamin B-12 API from Hoechst Marion Roussel

SICOR—Societa Italiana Corticosteroidi S.p.A., a subsidiary of SICOR Inc. (Irvine, CA), has acquired the non-exclusive technology rights to the active pharmaceutical ingredient (API) for Vitamin B-12 from Aventis (Strasbourg, France) subsidiary Hoechst Marion Roussel. Under terms of the agreement, SICOR will purchase the API from Hoechst Marion Roussel for resale throughout the European Union for the next several years, until SICOR can manufacture the API in its plants in Italy. Financial terms of the agreement were not disclosed.

"We have the opportunity to enter the Vitamin B-12 market in Europe with a competitive product which we expect to generate a positive revenue stream and fund our capital investment projects now underway," president and CEO Carlo Salvi said in a company press release. "This licensing agreement will not only increase our revenues, but should also have an immediate positive contribution to earnings and provide long-term benefits to SICOR. We expect that this agreement will cement our reputation as a leader in the area of fermentation and chemical synthesis.''

SICOR Inc. is a vertically integrated specialty pharmaceutical company that develops, manufactures, and markets multi-source injectable pharmaceuticals.

For more information: SICOR Inc., 19 Hughes, Irvine, CA 92618. Tel: 949-455-4700 or 800-729-9991. Fax: 949-855-8210

Edited by Jim Pomager